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India On Track To Attract $100 Bn FDI This Fiscal, Says Govt

To attract foreign investments, the government has put in place a liberal and transparent policy wherein most sectors are open to FDI under the automatic route, the Commerce and Industry Ministry said

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India is on track to attract USD 100 billion in foreign direct investment (FDI) in the current fiscal owing to economic reforms and ease of doing business. 

The country received the "highest ever" foreign inflows of USD 83.6 billion in 2021-22, said the Ministry of Commerce and Industry on Saturday. 

The Ministry also said that the FDI in previous fiscal came in from 101 countries and was invested across 31 union territories and states and 57 sectors in the country. 

"On the back of economic reforms and Ease of Doing Business in recent years, India is on track to attract USD 100 billion FDI in the current financial year," said a press statement.

To attract foreign investments, the government has put in place a liberal and transparent policy wherein most sectors are open to FDI under the automatic route, it added.

It also said that the reform measures include liberalisation of guidelines and regulations, in order to reduce unnecessary compliance burdens, bring down costs and enhance the ease of doing business in India. 

Also, FDI equity inflows in India dipped by 6 per cent to USD 16.6 billion during the April-June period of the current fiscal.

To address the import of low-quality and hazardous toys and to enhance domestic manufacturing of toys, several strategic interventions have been taken by the government, the Ministry added. 

Also, the import of toys in 2021-22 reduced by 70 per cent to USD 110 million. On the other hand, exports rose by 61 per cent to USD 326 million.

The government claims that FDI will be boosted by USD 100 billion this fiscal, but on the contrary, Madan Sabnavis, Chief Economist at Bank of Baroda, had last week, while speaking to BW Businessworld, said that it will broadly remain aligned with last year and will be stable.   


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